Germany is quickly becoming a key country within global tech innovation. In 2014, startups in that country raised more than $700 million placing the country in fifth place globally in terms of the largest recipients of tech investment. But maybe we should say that Berlin is the fifth largest recipient of capital globally. Of the top 10 most funded startups in Germany, 7 are based in the country’s capital.
Delivery Hero comes out on top as not only the largest recipient of investment in Germany in 2014, but as one of the largest recipients of total funding that year around the world. The Berlin based startup raised $523 million through three different fundraising rounds that year: an $88 million Series E in January, $85 million Series F in April, and a $350 million Series G in September.
Taking the business to a whole new level, Delivery Hero actually announced this month that they raised an additional $568 million from Rocket Internet AG which values the business at around $2 billion only 4 years after it was founded.
Grabbing second place among the list of most funded startups in Germany in 2014, Foodpanda, another food delivery service, bagged $80 million in two funding rounds in 2014. The fight to lead the food delivery space is heating up and two of the leading contenders are based in the same city, Berlin.
While most of the businesses that made it among the most funded startups in Germany are based in Berlin, 3 are based in Hamburg, Dresden, and Munich. These are Kreditech Holding, Heliatek, and Definiens. It’ll be interesting to see whether Berlin’s dominance as a tech innovation hub in Germany is can be increasingly challenged by other cities in the country. Until then, if you’re interested in German tech innovation, Berlin is where you need to be.